A recent report by GreatWall Strategy Consultants (GEI) listed nine Xiamen companies as potential unicorn firms, meaning they have a realistic chance of becoming a private company with a valuation topping a billion dollars.

The local firms include A1 Snack Lab, Epicmems, Xiamen Silan Microchip Manufacturing, ASL, UMU, Deep Insights, Xiamen Silan Advanced Compound Semiconductor, GeoMicro and Iris. The Xiamen companies represent sectors including integrated circuits, digital enterprise operations and new consumer industries.